Extending the balanced scorecard for technology strategy development

The balanced scorecard represents a vehicle for turning strategy into a set of actions or operational requirements. This paper offers a framework that exploits and enhances the concepts of the balanced scorecard for the development of an organisation's technology strategy. By providing a step-by-step process, this paper illustrates an approach to technology strategy development that retains the benefits of the balance scorecard in terms of performance measurement systems, and extends it by ensuring a close alignment between financial, marketplace and technology/innovation activities. The approach is illustrated via a case study on the palmtop computing industry.